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Company announcement no. 8
Spar Nord Bank A/S pays out the remaining DKK 2.50 per share concerning 2021 and will initiate a share buyback program as soon as possible
As announced in the Annual Report 2021, Spar Nord intended to pay total dividends of DKK 5.00 per share for 2021, equal to 45% of the profit for the year.
The Board of Directors recommended to the shareholders at the Annual General Meeting that initial dividends of DKK 2.50 per share was paid, and that the Board of Directors was authorised to pay up to an additional DKK 2.50 per share. This if the Board of Directors did not assess the need to strengthen the Bank's own funds due to potential acquisitions before the end of H1 2022.
The Board of Directors now assesses that there is no longer a need to withhold the remaining dividend of DKK 2.50 per share concerning 2021. Therefore the dividend will be paid out 17 June 2022.
Payment of the remaining dividend of DKK 2.50 per share does not affect the bank's capital ratios, as the provision for payment of the dividend was recognized in the bank’s own funds at the end of the first quarter of 2022.
At the same time, the Board of Directors has decided to initiate a share buyback programme at a maximum of DKK 225 million as soon as possible with the purpose of reducing the Bank’s share capital with the shares bought under the programme.
The purpose of the buyback is to optimise the Bank’s capital structure in accordance with the Bank’s capital targets.
Please direct any questions regarding this release to Lasse Nyby, Chief Executive Officer, on tel. +45 9634 4011, or Rune Brandt Børglum, Head of Investor Relations, on tel. + 45 9634 4236.
Rune Brandt Børglum
Head of Investor Relations